Elon Musk’s estimated US$839 billion net worth has made him the wealthiest individual ever recorded, Forbes said on Tuesday, as billionaires worldwide saw their combined fortunes surge in the past year to an all-time high of US$20.1 trillion.

Musk topped the Forbes World’s Billionaires list for the second consecutive year after his fortune swelled by roughly US$500 billion over the past 12 months, driven by rising valuations at Tesla and SpaceX, which is targeting a public offering in 2026.

He is the first person ever to surpass the US$800 billion mark and is on course to become the world’s first trillionaire.

Musk’s monumental jump in wealth reflects a roller coaster 2025 for Tesla that saw the electric vehicle maker’s stock price tumble through the spring amid consumer boycotts over the billionaire’s backing of Donald Trump and other far-right politicians.

But Tesla shares rebounded in the second half of 2025 after Musk exited his Trump administration role and have remained lofty. The Forbes list is based on valuations as of March 1, 2026.

Tesla champions believe the company is poised for stratospheric growth because of Musk’s access to cutting-edge technology in autonomous driving and artificial intelligence.